Provocative News and Events from Southeast Asia with an emphasis on Vietnam. Included are Headlines from China, India, Indonesia and Cambodia. Majority of photos from personal stock of 25,000 are posted at http://www.chuckkuhnvietnam.blogspot.com Photo:Chuck Kuhn

Wednesday, November 14, 2012

VietNamNet Bridge – A lot of tycoons in the real estate market were listed as the richest stock millionaires in 2007--owing to the big volumes of shares they held. However, their asset values have fallen down sharply also because of the shares.

Mr Dang Thanh Tam

Trillions of dong in the big tycoons’ assets have evaporated since the share prices keep decreasing. A report by VnExpress, which conducted an analysis in the cooperation with VnDirect Securities Company, showed that 100 best money earners can accumulate 7200 billion dong from stock investment, while 100 biggest money losers lost 7950 billion dong from stock trade deals.

The losers are mostly the ones who hold real estate firms’ shares or bank shares which have seen the prices tumble in a very tough year for the two business fields.

The weak VN Index was seen right at the beginning of the year, staying at 350 points. It later exceeded he 400 point threshold sometimes, but then fell down again. The stock market, which has been uncertain in liquidity and interrupted price hike waves, is considered the main reason that has made a lot of big tycoons poorer this year.

Dang Thanh Tam, President of the Kinh Bac Urban Development Corporation (KBC), Member of the Board of Directors of Nam Viet Bank (NVB), President of SGT, a telecom technology firm, tops the list of the businessmen who have seen the asset value decreases.

By November 9, 2012, Tam had held KBC, SGT, NVB and ITA (the Tan Tao Joint Stock Company) shares which have seen the prices falling by 40-60 percent in comparison with earlier this year.

Tam did not sell or buy any shares over the last 10 months. However, the volume of ITA has increased because of the dividend of 30 percent.

The stock market price falls plus some troubles occurring with Tam and his family members have made Tam’s assets decrease by 574 billion dong to 820.2 billion dong. With the news, it is very likely that Tam would be excluded from the list of the 2012 top 10 stock millionaires, after five consecutive years of being present.

Nguyen Van Dat, President and CEO of Phat Dat Real Estate Corporation (PDR), proves to be the second biggest money losers to Tam.

Dat listed himself among the richest stock millionaires in the 2010 report with the huge amount of real estate firms’ shares he held at that time, when the real estate was “scorching hot,” and real estate shares were the blue chips.

Dat’s stock assets once outstripped the 2600 billion dong threshold in 2010. However, the asset value has decreased sharply over the last two years, while the 76.8 million PDR shares he is holding now has the value of 930 billion dong only, a decrease of 515 billion dong in comparison with the last year.

The list of the big tycoons who have suffered the asset value decreases includes many other well-known names, such as Nguyen Duc Kien, or mogul Kien, former Member of the founding committee of the Asia Commercial Bank (ACB), Nguyen Thi Nhu Loan, President and CEO of Quoc Cuong Gia Lai Group, and Tran Hung Huy, President of ACB.

Kien has not carried out any business activities after he was arrested some months ago. However, he is still holding 35.1 million ACB shares. Meanwhile, ACB share price has decreased by 26 percent over the last 10 years, which has made his asset value decrease by 168 billion dong to 524 billion dong.

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“I can’t say what made me fall in love with Vietnam - that a woman’s voice can drug you; that everything is so intense. The colors, the taste, even the rain. Nothing like the filthy rain in London. They say whatever you’re looking for, you will find here. They say you come to Vietnam and you understand a lot in a few minutes, but the rest has got to be lived. The smell: that’s the first thing that hits you, promising everything in exchange for your soul. And the heat. Your shirt is straightaway a rag. You can hardly remember your name, or what you came to escape from. But at night, there’s a breeze. The river is beautiful. You could be forgiven for thinking there was no war; that the gunshots were fireworks; that only pleasure matters. A pipe of opium, or the touch of a girl who might tell you she loves you. And then, something happens, as you knew it would. And nothing can ever be the same again.” ― Graham Greene, The Quiet American

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Tips on Travel to Vietnam

It's always warm in Southeast Asia apart from high mountains, so leave the heavy clothing at home. Cotton and breathable fabrics are always better than synthetics -- although cotton does wrinkle a lot when traveling! December through April is roughly the dry season in that region, although it can still rain a little. December is a good time to go in terms of temperature -- cooler than in the humid summertime. Either way, wearing more clothing (shirt sleeves and long pants) is always more respectful towards the Asian culture, especially when visiting temples and rural areas.